New South Wales Consolidated Acts

CREDIT ACT 1984 - SECT 10

10 Annual percentage rate

For the purposes of this Act, unless the contrary intention appears, a reference to the annual percentage rate:

(a) in relation to a credit sale contract or a loan contract in respect of which the annual percentage rate has not been disclosed to the debtor or has been so disclosed otherwise than in accordance with section 38, is a reference to the lowest percentage rate per annum that can be determined in accordance with that section in relation to the contract,

(b) in relation to a credit sale contract or loan contract under which the annual percentage rate has been disclosed in accordance with section 38, is a reference to the rate disclosed, and

(c) in relation to a continuing credit contract, is a reference to the annual percentage rate within the meaning of section 55.